For some, Easter was great, and for others it was just a slight improvement over last year. What the latest figures from several industry reports and data from Volo's own platform did reveal was how online channels continue to dominate consumer spending at Easter.
Barclaycard saw a rise in transactions across the bank holiday weekend, with sales from the high street and online up 13% year-on-year - a healthy increase. Once you isolate online sales, a truer picture is revealed. Online grew 26%.
These numbers mirrored what IMRG reported during February 2017 – that shoppers are continuing to migrate online at the high street’s expense.
Comparing 2016 to 2017
There is no doubt that Easter is one of the main peak shopping periods of the year and many retailers rely on the four day weekend for a healthy bounce in sales after post-Christmas slower months.
That’s what makes the above research so interesting to see, especially within the context of our customers and their performance the year before.
Volo’s 2017 Easter figures are also interesting, showing a 28% growth in sales processed through retailers’ own websites, 13% increase in Amazon sales and 6% growth in eBay transactions compared to Easter 2016. Volo’s reporting tool also reveals that GMV (Gross Merchandise Volume) was up by 10% and AOV (Average Order Value) grew by 7.98%. This shows that although transactions only saw a modest increase, their overall value was larger.
Adapting to the Future of Shopping
Overall we can summarize that retailers still locked into the high street would have hoped for more impressive sales numbers. The key lesson is in the importance of a multi-channel sales strategy, as online marketplaces continue to grow in importance. Brands and retailers must capitalise on this change in consumer behaviour.
Shoppers are far more mobile, fickle and demanding than previous generations. They’re also abandoning the high street in droves as convenience and free delivery accommodates their shopping habits.
How was your Easter? Did it meet your expectations or underwhelm? Let us know what you think in the comments below.